iPath S&P 500 VIX Short-Term Futures ETN (VXX)

[risk on]

If spy fills the gap up put in today, and doesn't rebound , or even closes below yesterday's close.... VXX will explode , rapidly.

As an aside, I looked for about half an hour last night at long term ( 300 - 500 days out ) puts on spy , and the lanes were all big time green. Even more notable was that the lanes w the biggest gains were those in the 180 - 150 range., that's 20-25% below the current price. Also the correction intervals ( 2001, 2007 ) had very similar trajectories as we are in, And when overlayed w oil , it is scary. Gold and oil dropping simultaneously has preceded the last two corrections, as is the case now. Coupled w the massive overbought time period now, and.... It is Hard to ignore.

Thinking of starting to get more aggressive now on apx 400 day out calls on VXX , and spy puts